NeoRx wins orphan drug status for Picoplatin

NEW YORK (MarketWatch) -- NeoRx Corp.
nerx
said the U.S. Food and Drug Administration has granted it orphan drug designation for its Picoplatin platinum therapy for small cell lung cancer. Orphan drug status provides an accelerated review process and a period of market exclusivity for drugs developed to treat diseases that affect fewer than 200,000 people in the U.S. NeoRx shares ended Wednesday up 3.6% at $1.14.

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